In the near future, Uzbekistan intends to build four new free economic zones – in Urgut, Gijduvan, Kokand and Khazarasp.
The initiative is envisaged by a document currently being developed by the Ministry of Foreign Economic Relations, Investments and Trade of Uzbekistan. The other day, the draft was submitted for public comment on the Single Portal of Interactive Public Services.
The new economic beacons are projected to be located in Urgut district of Samarkand region, Gijduvan district of Bukhara region, in the city of Kokand of Ferghana region, and Khazarasp district of Khorezm region.
“The operational life of economic zones is 30 years with possible extension. Special tax and customs benefits will be applied in their territories within the stipulated period,” the document reads.
Key objectives of the new facilities include channeling direct funds of foreign and local investors to the construction of modern manufacturing ventures, securing integrated and effective use of production and resource capacities of Samarkand, Bukhara, Ferghana and Khorezm regions, intensified localization of production of high-tech goods out of local raw materials.
Moreover, it is planned to establish research and production centers on standardization, certification and labeling of goods in conformity with international standards, and take measures to ensure international recognition of their resolutions.
Worth noting is that locations for the new economic zones were sel ected upon detailed analysis of the industrial and investment capacities of the regions, and their advantageous setting in terms of access to foreign markets.
Creation of free economic zones in recent years has become an important factor in the enhancement of investments into the national economy for the modernization, technical and technological expansion of industrial production.
The availability of such zones in the territory of Uzbekistan has ensured some additional attractive conditions and mechanisms to enable foreign investors to swell their investments, and pushed national manufacturers to develop the manufacturing of new domestically and internationally competitive and marketable forms of telecommunication, oil and gas equipment, products for chemical, automotive and electrical industries, modern construction and finishing materials, high quality consumer goods and other high-tech industrial produce.
There are currently three successfully operating economic zones in Uzbekistan: Navoi (in Navoi region), Angren (Tashkent region) and Jizzakh (Jizzakh region). Dozens of advanced technological projects have been completed in these areas.
Uzbekistan has made a considerable progress in the privatization of public property, thereby attracting foreign investors. Nearly 5,000 enterprises have been established in the country with foreign investments fr om more than 90 countries.